This exemption defers, for four years, any increase in the assessment of your property as a result of improvements such as a deck, addition, garage, porch, finished Ground-level, etc., for which the assessor would add value.
A maximum of $75,000 of market value may be deferred under this program.
Improvements are generally not assessed until January 1st of the year following the completion of the improvement. The Township Assessor automatically applies for this exemption on behalf of the homeowner.
Must own, occupy and be used exclusively for a residential purpose.